Let's change people's minds!

Bzz agent funding

BzzAgent, the Boston-based company that organize common people to talk about, and endorse,  products and services has recieved new funding of  $13.75 million.

"With exceptional leadership, an impressive client base and history of rapid growth, BzzAgent is well-positioned to become a category-defining company that will dramatically change the way companies market to consumers," John Simon, managing director at General Catalyst Partners, one of the investors commented in their joint press release.

I congratulate BzzAgent, which I really agree have been successful to define the catogory, but in the same time I just ask my self: for what good will this money be used? Like other communication ventures the value lies in the ideas they are creating for their customers. To a certain point. Values also are to be found in the network of agents they have recruited. But people are not payed if they are out of assignment so the costs are rather low. Expansion to new cities an recruiting new agents perhaps may increase the demand for cash. But isn't that what a well known brand would do for you already, I mean, can it really be more difficult now then when they were starting the business?

Sure, $13,75 million is not astronomic, and perhaps the current owners perhaps got their fair share. But if the company is so successful and run an operation that cost very little. Shouldn't the cash come from another pipe?

 

Hope on Madison Avenue

If it's something I hate about viral and buzz marketing, it's the assumption that this would lead to the death of advertising.

There's a lot of bad advertising out there.There's also a lot of good advertising leading to nothing, because awareness wasn't what made the difference. Not doubts.

But there's also some good advertising supporting companies and products where a good or mediocre brand really can make the difference of success or failure. If this advertising also can stimulate buzz or become viral: It can't be better.

As an animal-lover I couldn't just resist this Internet ad. I liked what I saw. I figured the brand. If I would look for a job I would be a customer.

What's on people's minds

Communication aims at changing people's minds. And therefore we always wonder: What's on people's minds?

If you want to know, be sure to visit the Thought Project by the Dane Simon Hoegsberg. He has halted people in New York and Copenhagen, just to ask them - what were you thinking of right before I stopped you? Except for a fun and beatiful site, it's good stuff for a marketer to digest.

Enjoy. And thanks Researcher for the link.

Are viral effects always effective?

Buzz marketing, permission marketing, viral marketing, one-to-one, word-of-mouth, open source, relationship marketing......All those words. All those concepts.

They are all poised to dethrone advertising from the number one position in marketing and reshape the world of communications. And, in many ways they do. A whole lot of campaigns today contain more than 30-minutes spots and print ads. Specialised buzz and viral consultancies are popping up like mushrooms. We have buzz agents endorsing products they are payed to promote.

In many ways this development is just great. It's time to teach media buyers that there is more than payed media to choose from. And that doesn't always mean publicity.

But. There is a huge misunderstanding to believe normal marketing techniques are dead. Because word-of-mouth isn't an alternative technique. It's an effect. And it's not new, it's older than any other media. The effects has been generated from, among other things, 30-seconds spots, print advertising and publicity. But, as it is word-of-mouth that pretty much always eventually has been what has affected the audience (and not the advertising and publicity directly) it has always taken so much longer time than what the campaign makers have expected. And that has opened up for more direct word-of-mouth techniques.

Moreover, just because people are talking about products, ideas and services doesn't mean they will end upp buying it. There is still difference between effective marketing and marketing that generates effects.

One of the most famous viral campaigns is the Subservient chicken from Burger King. Read Adweeks (Thanks, Constantinos for the link) effort to decide weather the viral success also lead to success in sales. If you don't have time to go through it and still want the answer: It probably was pretty effective.